Act No. 18 of 7 August 1989 amending Articles 1 and 4 of and adding a new article to Act No. 6 of 1987
Annual Review of Population Law 16: 154-155
1989
ISSN/ISBN: 0364-3417 PMID: 12344171 Document Number: 342253
This Act provides the following benefits to all Panamanians and foreigners resident in Panama who have reached the age of 55, if women, and 60, if men, as well as to those who are pensioned and those retired because of disability: 1) a 50% discount on recreation and entertainment activities; 2) a public transportation discount ranging from 25 to 30%; 3) a lodging discount of 50% during the week and 30% on weekends; 4) a 25% discount on restaurants of the 1st and 2nd class; 5) a 15% discount in fast food establishments that are part of a national or international franchise; 6) a 10% discount in private hospitals and clinics when the person does not have hospital insurance; 7) a 10% discount on prescription medicines; 8) a 20% discount on general medical consultations and a 10% discount on dental, optometry, ophthalmology, cardiology, psychiatric and psychological, geriatric, and surgical services; 9) a 10% discount on technical and professional services, including legal, architectural, physiotherapy, and nursing services; 10) a 10% discount on prostheses; 11) a 50% discount on expenses and commissions related to financial, banking, and credit transactions; 12) a 15% discount on the maximum interest on personal and commercial loans; 13) a reduction of 1 percentage point in the interest on personal housing loans; 14) the freezing of the property tax on a personal home, as long as that home is the person's only property; 15) exemption from payment of the appraisal fee due on the transfer of property under the same circumstances as in 14 above; 16) a 50% discount on passports; 17) a 25% discount on electric bills under certain circumstances; and 18) a 50% discount on airport taxes or fees.